LONDON — Shares of Metro Bank, the money-losing British lender started in 2010 by the American financier Vernon W. Hill II, rose 4 percent Monday morning in the company’s debut on the London Stock Exchange.

The lender said on Friday that it had raised 400 million pounds, or about $569 million, in a private sale of securities before going public.

Metro Bank sold shares to new and existing shareholders at £20 each, valuing the lender at about £1.6 billion.

Shortly after its debut on Monday, the company’s shares rose 4 percent to £20.80 in conditional trading, after having gained as much as 9 percent. Metro Bank finished the day up 7.5 percent, at £21.50.

Unrestricted trading of the company’s stock is expected to begin on Thursday.

Metro Bank, which opened its first branch in 2010, is one of several so-called challenger banks to the traditional financial powers that dominate lending in Britain.

It is one of several such lenders to publicly list their shares in recent years, following OneSavings Bank, which was backed by the private equity firm J. C. Flowers & Company; Virgin Money, the British financial services company partly owned by the billionaire Richard Branson; and the Aldermore Group, an online bank.

Metro Bank has yet to turn a profit, but it hopes to do so by the end of this year. The bank posted a loss of £49.2 million at the end of 2015. It had £5.1 billion in deposits at the end of last year.

The company follows a similar model to Commerce Bancorp, which Mr. Hill started in the United States in the early 1970s.

The lender is the first venture for Mr. Hill since he was forced out of Commerce Bank in 2007 as he faced scrutiny over his business dealings with family members and other company insiders. Commerce was sold to TD Bank Financial of Canada for $8.5 billion soon after Mr. Hill left. The investigation by authorities in the United States ended without charges.